Gold Over $3,000…Now What?

The fact that we now see gold over $3,000 has all the goldbugs saying the next stop is $30,000.

Simply put…that ain’t gonna happen.

And we remind you that gold does not move based on inflation.

It moves based on loss of confidence in governments.

And that’s pretty obvious with what we see around the world.

But the goldbugs crowd constantly preaches the same thing.

“Oh no, the debt is rising, and the money supply is expanding, so buy gold.”

 

Ironically (or NOT) a quick look at history proves that theme totally wrong.

Example:   Gold reached $875 in 1980, and the National Debt was $1 trillion.

So, if gold responded to debt or inflation, why is it not at $30,000 instead of just breaking $3,000?

 

Don’t get us wrong.

We like gold and have been advocating it for several years as probably the second most underpriced assets in the world.

The most underpriced?

Silver…hands down.

 

READ: The Long-Awaited Silver Squeeze is On  March 13, 2025 (HERE)

 

And the fact that gold is now over $3,000 an ounce it becomes a catalyst for silver to break out to new highs on the upside as well.

But for silver to reach a new high it would need to trade above $50 an ounce.

 

Do the math.

Silver is currently $34.50.

To get to $50 would mean a 45% increase from here.

 

That would be like gold going to $4,400.

 

Over $3,000 Now What?

 

Keep in mind that gold has been building a solid base for over ten years.

And that when it reaches new all-time highs the tendency is to pull back a little and then stretch for more new highs.

Psychologically, $3,100 remains a resistance level for gold.

So, if it breaks 3,100 then it could quickly see the next top at $3,400-3,500.

But don’t get too excited yet.

Why?

Because all the gold bugs will be screaming from the rooftops that gold is unstoppable.

And when that happens, the markets usually burst the bubble and makes fools out of most investors.

It confirms the old Wall Street adage:

 

“The markets move in the direction that frustrates the most investors.”

 

And right now, most investors DO NOT OWN GOLD.

Hint! Hint!

 

Again, we issue a word of caution – for those who have never been in the gold/silver market – because most people buy gold and/or mining stocks for the wrong reasons.

Don’t be one of them.

 

Instead, learn the right reasons and some of the best names in the industry to invest in right now in our March edition of “Simplifying Wall Street…In Plain English” (HERE).

Share this with a friend…even if they are not a goldbug…but especially if they are itching to get into the gold market.  They’ll thank YOU later.

 

And tell them:

 

We’re Not Just About Finance

But we use finance to give you hope.

Support always welcome via the digital tip jar.

 

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